Hra rules

Gayatri Gayatri (Querist) 14 November 2013 This query is : Resolved
Dear Sir,

I work for a Multinational company. I took housing loan in my city. But that house was left vacant as it is far from the city. I am not staying in it.neither I gave it for rent.

I am staying in another house which is 15 kilometers(from above house). Here I am paying rent.

Can I claim both housing loan and House rent paid for income tax exemptions (even though my rented house and my purchased house are in same city)?

Follow Query

Report Abuse

Sudhir Kumar, Advocate (Expert) 14 November 2013
meet CA

Rajendra K Goyal (Expert) 15 November 2013
You can get the tax deductions for interest paid in respect of self occupied house. Principal payment upto 1 lac under section 80C can be claimed clubbing all other savings in this limit.

You can avail of both the benefits of Home loan and HRA if you are paying rent on your accommodation and have also taken a home loan on your own home. This is subject to your home receiving rental income which is taxable. Please note that if your house remains vacant, then you will still need to pay tax on a notional rent income.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now